Periodically you may need to update (flash) the bios to add new functionality, such as compatibility with a new CPU or Ram.Adding a new hard drive , video card and DVD drive will also show up in the bios and checking it to see if the device registered with the bios is a way to confirm it's compatible. It is not necessary to update the bios simply because a newer one is available, you should only update the bios if there is a need to do so.
Each new bios version should have a brief description of what the update covers.
You should look them over and decide which one best suits your needs, such as newer memory or CPU compatibility or even just new enhancements.
(Figure 1) Figure 1: BIOS Loading Screen Or by pressing F12 and selecting BIOS Setup from the menu.
(Figure 2) Figure 2: One Time Boot Menu Caution: Be careful when altering BIOS settings.
To get your bios version from within Windows go to the start button and in the run box type in msinfo32 and hit search.